iRhythm Technologies, Inc. (NASDAQ:IRTC) Given Average Recommendation of "Moderate Buy" by Analysts – MarketBeat
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iRhythm Technologies, Inc. (NASDAQ:IRTC – Get Rating) has received a consensus recommendation of “Moderate Buy” from the thirteen analysts that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $158.36.
Several research firms have recently issued reports on IRTC. Oppenheimer cut their price target on iRhythm Technologies from $175.00 to $166.00 in a research note on Wednesday. Needham & Company LLC cut their target price on shares of iRhythm Technologies from $185.00 to $140.00 and set a “buy” rating for the company in a research note on Wednesday. BTIG Research lowered their price target on iRhythm Technologies to $175.00 in a report on Thursday, October 20th. StockNews.com upgraded iRhythm Technologies from a “sell” rating to a “hold” rating in a report on Thursday. Finally, Citigroup lowered their price target on iRhythm Technologies from $147.00 to $144.00 and set a “neutral” rating for the company in a report on Wednesday.
iRhythm Technologies Stock Performance
NASDAQ:IRTC opened at $102.87 on Friday. The firm’s fifty day moving average price is $132.84 and its 200 day moving average price is $134.24. iRhythm Technologies has a 1-year low of $86.73 and a 1-year high of $169.54. The company has a debt-to-equity ratio of 0.14, a current ratio of 4.04 and a quick ratio of 3.84. The firm has a market cap of $3.09 billion, a price-to-earnings ratio of -23.81 and a beta of 1.48.
iRhythm Technologies (NASDAQ:IRTC – Get Rating) last released its earnings results on Thursday, August 4th. The company reported ($0.79) EPS for the quarter, beating analysts’ consensus estimates of ($0.94) by $0.15. The company had revenue of $102.10 million during the quarter, compared to the consensus estimate of $100.51 million. iRhythm Technologies had a negative return on equity of 38.66% and a negative net margin of 33.79%. iRhythm Technologies’s quarterly revenue was up 25.6% compared to the same quarter last year. During the same quarter last year, the company earned ($0.59) earnings per share. On average, sell-side analysts expect that iRhythm Technologies will post -3.56 EPS for the current year.
Insider Transactions at iRhythm Technologies
In other news, CEO Quentin S. Blackford sold 12,699 shares of the company’s stock in a transaction on Wednesday, November 2nd. The stock was sold at an average price of $122.40, for a total transaction of $1,554,357.60. Following the completion of the sale, the chief executive officer now directly owns 89,280 shares of the company’s stock, valued at $10,927,872. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CEO Quentin S. Blackford sold 12,699 shares of the stock in a transaction dated Wednesday, November 2nd. The stock was sold at an average price of $122.40, for a total value of $1,554,357.60. Following the completion of the sale, the chief executive officer now directly owns 89,280 shares of the company’s stock, valued at approximately $10,927,872. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Daniel G. Wilson sold 3,000 shares of the firm’s stock in a transaction dated Monday, September 26th. The stock was sold at an average price of $122.57, for a total value of $367,710.00. Following the sale, the executive vice president now directly owns 34,562 shares of the company’s stock, valued at $4,236,264.34. The disclosure for this sale can be found here. Over the last quarter, insiders sold 17,789 shares of company stock valued at $2,186,447. 1.64% of the stock is currently owned by corporate insiders.
Institutional Trading of iRhythm Technologies
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Xponance Inc. bought a new stake in shares of iRhythm Technologies in the 1st quarter worth approximately $222,000. Virginia Retirement Systems ET AL raised its position in iRhythm Technologies by 2.5% in the 1st quarter. Virginia Retirement Systems ET AL now owns 4,100 shares of the company’s stock valued at $646,000 after purchasing an additional 100 shares during the last quarter. Strs Ohio raised its position in iRhythm Technologies by 11.8% in the 1st quarter. Strs Ohio now owns 12,300 shares of the company’s stock valued at $1,936,000 after purchasing an additional 1,300 shares during the last quarter. Truist Financial Corp bought a new position in iRhythm Technologies in the 1st quarter valued at $3,285,000. Finally, FNY Investment Advisers LLC bought a new position in iRhythm Technologies in the 1st quarter valued at $55,000. Institutional investors and hedge funds own 98.98% of the company’s stock.
About iRhythm Technologies
(Get Rating)
iRhythm Technologies, Inc, a digital healthcare company, provides ambulatory electrocardiogram (ECG) monitoring products for patients at risk for arrhythmias in the United States. It offers Zio service, an ambulatory cardiac monitoring solution that combines a wire-free, patch-based, and wearable biosensor with a cloud-based data analytic platform to help physicians to monitor patients and diagnose arrhythmias.
See Also
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